Eaton Co. plc (NYSE:ETN) Shares Sold by Altrius Capital Management Inc

Altrius Capital Management Inc lessened its holdings in Eaton Co. plc (NYSE:ETN) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,368 shares of the industrial products company’s stock after selling 1,302 shares during the quarter. Eaton comprises approximately 2.5% of Altrius Capital Management Inc’s investment portfolio, making the stock its 2nd largest holding. Altrius Capital Management Inc’s holdings in Eaton were worth $8,999,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Ritholtz Wealth Management grew its holdings in Eaton by 5.1% during the fourth quarter. Ritholtz Wealth Management now owns 5,724 shares of the industrial products company’s stock worth $1,379,000 after acquiring an additional 277 shares during the period. Pacer Advisors Inc. raised its position in shares of Eaton by 30.5% in the fourth quarter. Pacer Advisors Inc. now owns 34,071 shares of the industrial products company’s stock worth $8,205,000 after acquiring an additional 7,964 shares during the period. Chicago Capital LLC purchased a new position in shares of Eaton in the 4th quarter valued at about $2,958,000. Neo Ivy Capital Management acquired a new position in Eaton in the 3rd quarter worth about $479,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in Eaton by 13.6% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,458 shares of the industrial products company’s stock worth $351,000 after purchasing an additional 174 shares in the last quarter. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ETN shares. Citigroup upped their target price on Eaton from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Royal Bank of Canada upgraded shares of Eaton from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $286.00 to $371.00 in a research report on Friday, April 5th. Berenberg Bank upped their price target on shares of Eaton from $200.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Barclays upgraded Eaton from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, April 2nd. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $312.00 price target on shares of Eaton in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.60.

Eaton Trading Up 0.7 %

Eaton stock traded up $2.21 during mid-day trading on Monday, hitting $326.51. The company’s stock had a trading volume of 3,120,883 shares, compared to its average volume of 1,971,206. Eaton Co. plc has a 1 year low of $165.24 and a 1 year high of $331.47. The company has a current ratio of 1.51, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $130.44 billion, a PE ratio of 40.55, a price-to-earnings-growth ratio of 2.69 and a beta of 1.07. The stock’s fifty day moving average is $304.82 and its two-hundred day moving average is $258.90.

Eaton (NYSE:ETN) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.08. The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.91 billion. Eaton had a return on equity of 20.05% and a net margin of 13.88%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.06 earnings per share. On average, analysts anticipate that Eaton Co. plc will post 10.28 EPS for the current year.

Eaton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, May 3rd. This represents a $3.76 annualized dividend and a yield of 1.15%. Eaton’s dividend payout ratio (DPR) is 46.88%.

Insiders Place Their Bets

In other Eaton news, insider Heath B. Monesmith sold 13,027 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $291.40, for a total value of $3,796,067.80. Following the sale, the insider now directly owns 69,472 shares in the company, valued at $20,244,140.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Eaton news, insider Olivier Leonetti sold 4,461 shares of Eaton stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $272.00, for a total transaction of $1,213,392.00. Following the transaction, the insider now owns 630 shares of the company’s stock, valued at $171,360. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Heath B. Monesmith sold 13,027 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $291.40, for a total value of $3,796,067.80. Following the completion of the sale, the insider now directly owns 69,472 shares of the company’s stock, valued at $20,244,140.80. The disclosure for this sale can be found here. Insiders sold 38,969 shares of company stock worth $10,904,774 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.